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Nasdaq selects Perseus for time stamping service at US data centre

03 December 2014

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Source: Nasdaq

Nasdaq, a leading provider of trading, exchange technology, information and public company services, today announced the launch of a trade time stamping offering at its data center in Carteret, New Jersey. The service, High Precision Time™, is provided by Perseus, a managed service provider of global high-speed connectivity, and enables Nasdaq customers to synchronize their time systems across a multitude of data centers.

High Precision Time offers access to a National Institute of Standards and Technology (NIST)-certified GPS antenna as well as Network Time Protocol (NTP) and Precision Time Protocol (PTP) connectivity with nanosecond accuracy to the Coordinated Universal Time UTC (NIST) timescale. These NIST-certified options allow Nasdaq co-located clients at the Nasdaq data center in Carteret, NJ, to synchronize their system clocks. This tool can be used as clients' primary time service, or as a back-up for clients which already use Nasdaq's shared GPS service or have their own dedicated GPS antenna.

"The relationship with Nasdaq is an important step in helping our shared customers mitigate the risks of inaccurate time stamps when disseminating and trading on sensitive market information," said Anthony Gerace, President, Global Financial Services, at Perseus Telecom. "This is especially important for compliance and high precision trading."

Nasdaq co-located clients can connect to High Precision Time services via a simple inter-cabinet cross-connect with:

• Certified NIST GPS Antenna access
• Certified UTC (NIST) timescale accuracy and reporting
• Choice of delivery protocols: NTP (Network Time Protocol) and PTP (Precision Time Protocol)
"Our adoption of Perseus' precision time service is another example of our commitment to provide member firms with technology solutions that reduce risk exposure," said Stacie Swanstrom, Head of Global Access Services and Senior Vice President of Global Trading and Market Services at Nasdaq. "Transparency and choice is a hallmark of Nasdaq's philosophy, which is why we continuously improve our Nasdaq Data Center environment while being mindful of the challenges and complexities of the markets."